AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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AceTraderFx Jul 04: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 04 Jul 2018 9:30 GMT

USD/JPY - 110.53
Although price has retreated after yesterday's break of Monday's high at 111.06 to 111.14 in Asia and minor consolidation would be seen, as said move signals erratic upmove from May's trough at 108.12 has resumed, upside bias is retained and above said resistance would extend marginally.
However, May's peak at 111.40 should hold on first testing and yield retreat later.
On the downside, only below 109.55 would indicate a temporary top has been made, risk stronger retracement towards 109.37/40 before prospect of rebound.

U.S. markets are closed for Independence Day holiday, so no U.S. eco. data is due out n trading may thin out near European close.

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AceTraderFx Jul 05: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 05 Jul 2018 9:30 GMT

USD/JPY - 110.69
The greenback's intra-day rebound after failure to penetrate yesterday's low at 110.28 suggests the pullback from Tuesday's high at 111.14 has ended there and consolidation with upside bias remains for near term upmove from 108.12 to resume and yield re-test of aforesaid resistance, break would extend marginally but daily resistance at 111.40 would hold ahead of today's FOMC minutes and yield retreat.

On the downside, only below 110.28 would revive bearishness for a stronger retracement towards 109.97 but 109.69/70 should remain intact.

The U.S, market will reopen after yesterday's Independence Day closure, on the data front, we have the important ADP private payrolls, weekly jobless claims, Markit services PMI, ISM non-mfg PMI and last but not the least, release of previous FOMC meetings at 18:00GMT.

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AceTraderFx Jul 09: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 09 Jul 2018 9:30 GMT

USD/JPY - 110.47
The greenback's rebound after failure to penetrate Wednesday's low at 110.28 suggests the pullback from Tuesday's high at 111.14 has ended there and consolidation with upside bias remains for near term upmove from 108.12 to resume and yield re-test of aforesaid resistance, break would extend marginally but daily resistance at 111.40 would hold initially and yield retreat.

On the downside, only below 110.28 would revive bearishness for a stronger retracement towards 109.97 but 109.69/70 should remain intact.

Data to be released on Monday :
Japan current account, Economy Watchers outlook, Economy Watchers current, Swiss unemployment rate, Germany exports, imports, trade balance, current account, and EU sentix index.

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AceTraderFx Jul 11: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 11 Jul 2018 9:30 GMT

USD/JPY - 111.04
The greenback's rally yesterday on dollar's broad-based strength to 111.35 suggests a re-test of May's 3-month peak at 111.40 is forthcoming after minor consolidation, break would extend medium-term rise from March's low at 104.57 towards 111.79/80 later, however, over bought condition would keep price below 112.00/10 and yield a much-needed correction later this week.

On the downside, only below 110.55 would indicate a temporary top has been made and risk stronger retracement towards 110.28/30.

On the data front, U.S. will release MBA mortgage applications, Jun PPI, wholesale inventories and wholesale sales. Atlanta Fed President Bostic (voter) will speak at 16:30GMT.

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AceTraderFx Jul 12: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 12 Jul 2018 9:30 GMT

USD/JPY - 112.32
The greenback's rally yesterday on dollar's broad-based strength to 112.17, then intra-day break of this resitance to a 4-month peak at 112.42 suggests medium-term rise from March's low at 104.57 remains in progress and further gain towards 112.79/80 later.
However, over bought condition would keep price below 113.00/10 and yield a much-needed correction later this week.

On the downside, only below 110.55 would indicate a temporary top has been made and risk stronger retracement towards 110.28/30.

Data to be released on Thursday :
UK RICS housing price balance, Japan tertiary industry index, Germany CPI, HICP, France CPI (EU Norm), EU industrial production, Canada new housing price index, and U.S. CPI, core CPI, real weekly earnings, initial jobless claims, Federal budget.

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AceTraderFx Jul 16: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 16 Jul 2018 9:30 GMT

USD/JPY - 112.45
The greenback's rally last week on dollar's broad-based strength to a fresh 6-month peak at 112.79 Friday suggests medium-term rise from March's low at 104.57 remains in progress and consolidation with upside bias remains for further gain towards 113.00/10 late.
However, over bought condition would keep price below 113.28/30 and yield a much-needed correction later this week.

On the downside, only below 111.40 would indicate a temporary top has been made and risk would increase for a stronger retracement towards 111.01/10 but support at 110.77 should remain intact, yield rebound.

Data out today:
UK Rightmove house price, Japan market holiday, Italy trade balance, global trade balance, EU trade balance, and U.S. New York Fed manufacturing index, retail sales, business inventories.

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AceTraderFx Jul 19: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 19 Jul 2018 9:30 GMT

USD/JPY - 112.95
The greenback's rise yesterday above last week's fresh 6-month peak at 112.79 Friday to 113.14 suggests medium-term rise from March's low at 104.57 remains in progress and consolidation with upside bias remains for further gain towards 113.28/30 later.
However, over bought condition would keep price below 113.40/50 and yield a much-needed correction later this week.

On the downside, only below 111.40 would indicate a temporary top has been made and risk would increase for a stronger retracement towards 111.01/10 but support at 110.77 should remain intact, yield rebound.

U.S. will release weekly jobless claims, Philly Fed survey n leading indicators later today.

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AceTraderFx Jul 23: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 23 Jul 2018 09:30 GMT

USD/JPY - 110.97
Despite the greenback's rise to a fresh 6-month peak at 113.17 last Thursday, subsequent selloff to 110.75 in Asia today suggests medium-term upmove has made a temporary top there and consolidation with downside bias remains for weakness towards 110.50/55.
However, loss of downward momentum would keep price above 110.28 and yield rebound later.

On the upside, only above 113.17 would revive bullishness for gain towards 113.50/55 but over bought condition would keep price below 114.00 and yield a much-needed correction later this week.

Data to be released today :
Canada wholesale sales, EU consumer confidence, and U.S. national activity index, existing home sales.

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AceTraderFx Jul 27: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jul 2018 9:30 GMT

USD/JPY - 111.04
Although the greenback has staged a recovery to 111.24 after yesterday's break of Monday's low at 110.75 to 110.59 and minor consolidation would be seen ahead of U.S. GDP release today, as said move signals decline from July's 6-month peak at 113.17 has resumed, downside bias is retained for another fall later today or early next week.
Below 110.59 would extend towards 110.28/30 before prospect of a rebound later.

On the upside, only above 111.54 would indicate a temporary low has been made and risk would increase for a much needed retracement to 111.80/85.

Data to be released on Friday :
Japan Tokyo CPI, Australia PPI, France GDP, Germany import prices, France consumer spending, Italy producer prices, Canada budget balance, and U.S. GDP, PCE, University of Michigan sentiment

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AceTraderFx Jul 30: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 30 Jul 2018 9:30 GMT

USD/JPY - 111.07
Although the greenback has staged a recovery to 111.26 after last Thursday's fall to as low as 110.59 and minor consolidation would be seen, as said move signals decline from July's 6-month peak at 113.17 has resumed, downside bias is retained for another fall later this week.
Below 110.59 would extend towards 110.28/30 before prospect of a rebound later.

On the upside, only above 111.54 would indicate a temporary low has been made and risk would increase for a much needed retracement to 111.80/85.

On the eco. data front, U.S. will release some 2nd-tier data starting with Jun new home sales n Jul Dallas Fed mfg business index.

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